Vietnam News Economy

Thanks to the government's support and incentive policies, HCM City's industrial production index in the first 10 months of 2024 increased sharply compared to the same period a year earlier, according to the City's Department of Industry and Trade.

The UKVFTA took effect on May 1, 2021, with a preferential tariff quota granted to Việt Nam at a tax rate of zero per cent, enabling UK buyers to have more choices of rice varieties from Việt Nam.

The country’s current financial capacity covers only about 21 per cent of the need for relief and recovery after natural disasters.

A contentious debate has arisen over whether Việt Nam should impose a 5 per cent VAT on fertilisers to boost local production or retain the current tax exemption to support farmers.

According to the SBV, Decision No. 2410/QĐ-NHNN and Decision No. 2410/QĐ-NHNN aim to ensure consistency on a legal basis with other issued circulars on deposit interest rates.

Throughout the week, the market continued its downward trajectory amid unfavourable macroeconomic conditions. The VN-Index lost a significant support level and appeared to be heading towards deeper support zones. This volatility raised concerns among investors about the market's short-term prospects.

Prime Minister Phạm Minh Chính had talks with executives of Brazil's aerospace company Embraer, meat producer JBS, Oceanside One Trading, and smart card solution supplier Alterosa.

To mark the 10th edition of the awards in Việt Nam, the programme this year conferred the Developers of the Decade awards for the first time, honouring previous winners such as CapitaLand Development (Vietnam), Ecopark, Gamuda Land, Keppel Vietnam, Khang Điền House Trading and Investment JSC, ParkCity Group, Phú Long Real Estates Corporation, and SonKim Land Corporation.

The event aims to address the practical needs of businesses in the industrial and trade sectors as they navigate digital transformation.

HCM City is set to enhance its logistics sector to become a key logistics hub in Southeast Asia by 2030, leveraging global supply chain opportunities.

Prime Minister Phạm Minh Chính received a delegation of the International Monetary Fund (IMF)'s 2024 Article IV Mission to Việt Nam led by its head Paulo Medas in Hà Nội on November 15.

State President Lương Cường delivered a speech at the Asia-Pacific Economic Cooperation (APEC) Leaders' Informal Dialogue with Guests in Lima on November 15 (local time).

The draft amendment to the Law on Electricity, which is on the agenda at the current session of the National Assembly, would be a bold step for Việt Nam towards ensuring national energy security and achieving net zero emissions by 2050.

It took Dubai just exactly five years to build a 600-hectare city with 500 buildings worth US$20 billion, but with a maze of regulations like in Việt Nam, it might take 1,500 years, Minister of Planning and Investment Nguyễn Chí Dũng has said.

The GE Vernova Foundation in collaboration with Asia Society for Social Improvement and Sustainable Transformation (ASSIST) and Electric Power University have announced a US$750,000 investment in the workforce supporting Việt Nam’s energy sector. 

FPT Techday 2024, an annual technology event, officially took place at Thiskyhall Sala Conference and Event Centre in Thu Duc City, Ho Chi Minh City, on November 13.

IHG Hotels & Resorts, a global leader in the hospitality industry, has unveiled ambitious plans to expand its presence in Việt Nam by increasing its portfolio from 16 hotels to over 40 properties, bringing its room count from approximately 4,800 to 12,000.

Vice President of Việt Nam National Real Estate Association (VNREA), Dr Lawyer Đoàn Văn Bình, who is also Founder and Chairman of the CEO Group, has officially introduced his book guiding foreigners on how to navigate the waters of the real estate market.

A recent Google report shows that Việt Nam could gain up to VNĐ1.89 trillion (US$79.3 billion) in economic benefits from AI by 2030, making up nearly 12 per cent of the country's GDP, if AI tools are widely adopted.

Businesses in the film industry have proposed a reduction in the value added tax (VAT) from current 5 per cent to 3 per cent in order to promote the development of the industry.